TOP STORY: RATE RISE HITS BUSINESS — WSJ’s Jon Hilsenrath and Victoria McGrane on pg. A1: “Sharp increases in long-term interest rates, triggered by Federal Reserve statements last week, threaten sales of homes, cars and other big-ticket items that have helped drive the U.S. economic recovery. Rate increases on interest-sensitive sectors likely aren't severe enough to derail the recovery, say economists. But they arrived just as the economy's lagging growth had showed welcome signs of improvement. …
“Rates on conventional 30-year mortgages were 4.56 percent on Wednesday, up from 3.74 percent a month ago, according to HSH Associates; rates on investment-grade-rated corporate bonds went to 3.47 percent from 2.73 percent, according to Barclays BARC.LN +2.03 percent; and yields on 10-year U.S. Treasury notes were 2.54 percent, up from 1.94 percent. Rates are supposed to go up as economic growth accelerates, and their rise could represent an undercurrent of good economic news. Higher rates have benefits, such as better returns to savers. Still, Fed officials were surprised that markets pushed rates up so far so fast.”
Let the whining begin...save us Fed, save us .GOV you're our only hope! think of the children! ( said in my best peasantry voice )
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